diff --git a/flang/include/flang/Parser/dump-parse-tree.h b/flang/include/flang/Parser/dump-parse-tree.h
--- a/flang/include/flang/Parser/dump-parse-tree.h
+++ b/flang/include/flang/Parser/dump-parse-tree.h
@@ -190,6 +190,7 @@
   NODE(CommonStmt, Block)
   NODE(parser, CompilerDirective)
   NODE(CompilerDirective, IgnoreTKR)
+  NODE(CompilerDirective, LoopCount)
   NODE(CompilerDirective, NameValue)
   NODE(parser, ComplexLiteralConstant)
   NODE(parser, ComplexPart)
diff --git a/flang/include/flang/Parser/parse-tree.h b/flang/include/flang/Parser/parse-tree.h
--- a/flang/include/flang/Parser/parse-tree.h
+++ b/flang/include/flang/Parser/parse-tree.h
@@ -3231,6 +3231,7 @@
 
 // Compiler directives
 // !DIR$ IGNORE_TKR [ [(tkr...)] name ]...
+// !DIR$ LOOP COUNT (n1[, n2]...)
 // !DIR$ name...
 struct CompilerDirective {
   UNION_CLASS_BOILERPLATE(CompilerDirective);
@@ -3238,12 +3239,15 @@
     TUPLE_CLASS_BOILERPLATE(IgnoreTKR);
     std::tuple<std::list<const char *>, Name> t;
   };
+  struct LoopCount {
+    WRAPPER_CLASS_BOILERPLATE(LoopCount, std::list<std::uint64_t>);
+  };
   struct NameValue {
     TUPLE_CLASS_BOILERPLATE(NameValue);
     std::tuple<Name, std::optional<std::uint64_t>> t;
   };
   CharBlock source;
-  std::variant<std::list<IgnoreTKR>, std::list<NameValue>> u;
+  std::variant<std::list<IgnoreTKR>, LoopCount, std::list<NameValue>> u;
 };
 
 // Legacy extensions
diff --git a/flang/lib/Parser/Fortran-parsers.cpp b/flang/lib/Parser/Fortran-parsers.cpp
--- a/flang/lib/Parser/Fortran-parsers.cpp
+++ b/flang/lib/Parser/Fortran-parsers.cpp
@@ -1209,14 +1209,20 @@
 
 // Directives, extensions, and deprecated statements
 // !DIR$ IGNORE_TKR [ [(tkr...)] name ]...
+// !DIR$ LOOP COUNT (n1[, n2]...)
 // !DIR$ name...
 constexpr auto beginDirective{skipStuffBeforeStatement >> "!"_ch};
 constexpr auto endDirective{space >> endOfLine};
 constexpr auto ignore_tkr{
     "DIR$ IGNORE_TKR" >> optionalList(construct<CompilerDirective::IgnoreTKR>(
                              defaulted(parenthesized(some("tkr"_ch))), name))};
+constexpr auto loopCount{
+    "DIR$ LOOP COUNT" >> construct<CompilerDirective::LoopCount>(
+                             parenthesized(nonemptyList(digitString64)))};
+
 TYPE_PARSER(beginDirective >>
     sourced(construct<CompilerDirective>(ignore_tkr) ||
+        construct<CompilerDirective>(loopCount) ||
         construct<CompilerDirective>(
             "DIR$" >> many(construct<CompilerDirective::NameValue>(name,
                           maybe(("="_tok || ":"_tok) >> digitString64))))) /
diff --git a/flang/lib/Parser/unparse.cpp b/flang/lib/Parser/unparse.cpp
--- a/flang/lib/Parser/unparse.cpp
+++ b/flang/lib/Parser/unparse.cpp
@@ -1783,6 +1783,9 @@
               Word("!DIR$ IGNORE_TKR"); // emitted even if tkr list is empty
               Walk(" ", tkr, ", ");
             },
+            [&](const CompilerDirective::LoopCount &lcount) {
+              Walk("!DIR$ LOOP COUNT (", lcount.v, ", ", ")");
+            },
             [&](const std::list<CompilerDirective::NameValue> &names) {
               Walk("!DIR$ ", names, " ");
             },
diff --git a/flang/test/Parser/compiler-directives.f90 b/flang/test/Parser/compiler-directives.f90
--- a/flang/test/Parser/compiler-directives.f90
+++ b/flang/test/Parser/compiler-directives.f90
@@ -13,4 +13,6 @@
   !dir$ integer = 64
   !dir$ optimize:1
   !dir$ optimize : 1
+  !dir$ loop count (10000)
+  !dir$ loop count (1, 500, 5000, 10000)
 end